VTEX Teams With Stripe to Offer Digital Payments

Online software-as-a-service (SaaS) commerce platform VTEX has joined forces with online payments infrastructure company Stripe to offer online payment processing capabilities through Stripe, according to a Wednesday (Oct. 27) press release.

As part of the collaborative effort, VTEX global customers can process online payments with Stripe directly through a VTEX Commerce Platform plug-in. The integration works in all countries where both companies operate – including the U.S., Brazil, Mexico, the United Kingdom, Italy, France, Portugal, Spain, Romania, Bulgaria and Singapore – and supports payments processing in more than 135 different currencies, according to the companies.

In addition, VTEX retailers can also accept Google Pay, Apple Pay, and credit and debit cards, per the release. VTEX customers can also make use of Stripe’s various products, including Stripe Radar, which helps detect and block fraud for any type of business.

“We are committed to providing the digital commerce platform that enables enterprises to be relevant for the convenience-driven consumer,” said Maurício Baum, head of payments at VTEX. “This global partnership enables us to enhance the payments ecosystem, helping brands and retailers to upgrade their payment strategies and checkout experiences, key elements of any commerce operation.”

VTEX reached unicorn status in September 2020, when its $225 million funding round pushed the company’s valuation to $1.7 billion, as PYMNTS reported.

Read more: VTEX Says New Funding Puts Valuation at $1.7B

VTEX, which is based in Brazil, was founded in 2000. The company serves more than 3,000 online storefronts in more than 32 countries, listing among its clients Walmart, Coca-Cola, Nestle and Sony, per a PYMNTS report.

In an interview with PYMNTS last year, VTEX Chief Strategy Officer and U.S. General Manager Amit Shah said that a post-pandemic disruption of online retail has resulted in more than 200% growth for VTEX’s direct-to-consumer business. He predicted that the trend of helping companies build their own platforms will continue.

See also: VTEX Expects More Companies to ‘Go the Nike Route’ and Build up D2C